The Reserve Bank on Tuesday said the soft monetary policy adopted by it to counter the impact of the global financial meltdown on the country will continue till the economic recovery is secured.
Among the 18 states and Union Territories of which data is available, Bihar recorded the highest State Gross Domestic Product (SGDP) in a year when the global financial meltdown pulled down country's economic growth rate to 6.7 per cent from 9 per cent.
The Australian government is set to amend the immigration procedures that will also fast-track approvals for skilled migrants during critical demand in the country, media reports said.
An assest management company invests its clients' pooled fund into securities that match its declared financial objectives. Asset management companies provide investors with more diversification and investing options than they would have by themselves.
In view of current global crisis, the Malaysian government may not allow electronics and electrical sectors to hire foreign workers, including Indians.
Though the impact of the global meltdown would not be 'drastic' on India's economy, its recovery would be 'stretched', with the slowdown of FDI inflow, he said, delivering the Fedbank Hormis lecture on 'The Global Financial crisis and India's incomplete transformation' in Kochi on Tuesday, organised by Federal Bank. He said the fundamentals of the Indian economy were strong, value of exports was only 13 per cent of GDP.
Led by state-owned LIC, new business for the life insurance industry recorded a growth of 25 per cent during 2009-10, overcoming the decline witnessed a year ago on account of the global financial meltdown.
The revival has been such that denim players are experiencing a tsunami of orders. Arvind Limited, India's largest denim producer based in Ahmedabad, has its hands full with export orders. The firm has a denim production capacity of 75 lakh (7.5 million) metres a month.
Sensex up just 6.5% while the best returns were during Manmohan Singh, with the Sensex soaring nearly 167.5%.
In the termination letters, RIL mentioned that the business has been impacted by the slowdown and the company was not in a position to continue with their employment. Employees who would resign will get one month's salary as compensation. When contacted, an RIL spokesperson declined to comment on the development.
A gush of Federal money helped in avoiding an economic meltdown.
Promising the best and affordable education under a safe environment and a relativey easy permanent residency, Kiwiland is an inviting study destination.
To repay the amount, the company would sell common stocks worth $10.4 billion and also raise $1.35 billion through its issuance to some employees instead of cash as part of their compensation this year, among others.
There are "grave implications" of the current economic downturn for 1.5 million people of Indian origin working and living in Britain, according to the Indian Workers Association.
Brown's resignation follows that of Citigroup's South Asia CEO, Sanjay Nayar, who has quit the financial services major to join Kohlberg, Kravis, Roberts & Co as its Country Chief.
Australian left-arm fast bowler Mitchell Johnson admitted that a bitter row with his mother led to his meltdown during this year's Ashes, which Australia lost.
News channel NewsX, which was sold last year by INX Media following a financial crunch during the global economic meltdown, is set to be relaunched under a new brand within the next few months
Because of global economic meltdown and stimulus packages provided to industry.
Last year, India was ranked second in global FDI flows after China. While China continues in the top place, the US climbed up to second place this year, thanks to a surge in investments by Chinese and Indian companies, who acquired several sick American firms.
The finance ministry on Wednesday said the surge in foreign capital inflow in the country, powered by initial recovery in the global economy, is not a cause for concern at present and no specific action is required to arrest it.
Fearing the "inevitable" global recession following the US financial meltdown, Japanese Prime Minister Taro Aso said the magnitude of the turmoil was increasing in "seriousness" and wanted the international community to make "concerted efforts" to tackle the crisis.
Finance -- the most battered sector by the global meltdown -- is making a strong comeback.
"The EU economy will emerge from recession in the second half of this year, although for 2009 as a whole, GDP is still set to fall by some four per cent."
With the stimulus measures primarily comprising cut in indirect taxes, the Survey said there is likely to be a shortfall in tax collections under these heads.
The Economic Survey, to be tabled in Parliament on Thursday, is likely to provide an assessment of the impact of the global financial meltdown on the Indian economy and outline the strategy to spur growth and contain the mounting fiscal deficit.
Barn owl, an endangered species, has come under increased threat in Kerala's Western Ghats, one of its natural habitats, with many recession-hit businessmen from some states seeking it for sacrifice in the belief that it will help them tide over the meltdown.
Cases such as Vodafone and E*Trade are scaring foreign investors away, says Nishith M Desai.
With the financial meltdown eating into global economic growth, including India's own, External Affairs Minister Pranab Mukherjee, who also holds the finance portfolio, warned that ignoring rural economy could prove to be disastrous. "Global financial institutions need to put more resources for developing countries in rural economy, build social infrastructure... The government will take further steps to ensure labour-intensive sectors are less adversely affected," he said.
Battered by the financial meltdown, AIG had received billions of dollars from the US government last year to tide over the turmoil. The leading insurer has also shed assets worldwide to streamline its operations.
'With a strong customer base, we will continue to focus on customer-centric services, offer integrated full services, a global delivery model, tap emerging markets and increase our non-linear capabilities.'
The global economic meltdown and the gas dispute between the Ambani brothers may trip India's largest ever auction of oil and gas blocks as the two factors are likely to keep major foreign firms from bidding, the sector regulator feels.
Official figures show that immigrants have taken four out of every five new jobs in Britain since 1997.
An engineer, laid off in December 2008, remained unemployed for a year but did not lose hope. Today, he has a job with double the salary his previous employer paid him.
Citigroup will soon announce what its executives describe as a drastic plan to shed a host of businesses and shrink itself by one-third, a leading financial daily said on Wednesday, citing people familiar with the bank.
The Federation of Indian Export Organisations said there was no 'serious consideration' for the exporters in the measures announced by the government last week to stimulate the Indian economy, reeling under the impact of global meltdown. The government, in the stimulus package, had provided for an interest subvention of two per cent up to March this fiscal subject to minimum rate of interest of seven per cent.
Since September last year, when everyone realised that the global economic meltdown could not be wished away, industry groups have been dishing out data on job losses. Among these is the Confederation of Indian Textile Industry, which said a million jobs had been lost in the last financial year. Most textile companies expect the situation to improve by October this year.
The most marked development of the year was the Rs 10,000 crore (Rs 100 billion) Satyam financial scam, disclosed by the founder B Ramalinga Raju, forcing the government to redraft rules for corporate governance and auditing standards.
In 2008-09, the industry grew by over 16 per cent at $46.3 billion.
Secretaries' panel fails to arrive at a decision. Sources told Business Standard the commerce ministry felt that the delay would add to the cost for the government as more and more factories could shut shop.
